Shareholders' interests are protected by several parties both within and outside the corporation. Go through your notes after each stakeholder meeting. answer choices A person with the main role of holding stakes for a business An individual or group that has active interest in a business or is affected by the activities of the business An individual or group that has shares in the business or is affected by the activities of the business A person who enjoys being around the business Question 6 fair treatment. Limiting needless revisions and pointless back-and-forth communication means you waste less time that could be spent on important work. 67. All stakeholders should be considered essential to a business, but not all have equal priority. What do stakeholders want above all else? . Create a map with 4 blocks of stakeholders according to their priorities. Users are the stakeholder-type of people who will use the products of your project or programme. Project managers are notorious for overpromising on a project and under-delivering even when they know they are being overly optimistic. 36 terms. By "consensus-building," I don't mean weak compromise; I mean stakeholders working hard to seek out win/wins for nature and all the different stakeholders and interests: looking for "both and" solutions and innovations. Your stakeholders will want to know your understanding or interpretation of their requirements. Keep the stakeholders involved. Productivity and quality are generally high. A new study by Expert Market, a B2B customer acquisition company, looked at average revenue per employee and found that, for the top 100 companies by revenue per employee, the average employee . Mistake #2: Being unrealistic with your key stakeholders. Summary. fair treatment. Strategic Management: Midterm - Prof Lopez. Key Takeaways. Limiting needless revisions and pointless back-and-forth communication means you waste less time that could be spent on important work. Primary stakeholders are the people or groups that stand to be directly affected, either positively or negatively, by an effort or the actions of an agency, institution, or organization. brittanyl489. What do stakeholders want above all else? The stakeholders an organization serves ought to be its customers, employees, society, the environment as well as those who deserve a just or fair share of the profits (the shareholders). QUESTION. This mistake is more common than many project managers are willing to admit. What do stakeholders want above all else? answer choices. Some stakeholders (like the executive leads) may need a more formal type of communication, but less . Strategic Management Chapter 2. Return on equity, or ROE, is a common profitability ratio used by many investors to calculate a company's ability to generate income from shareholders' equity or investments. andrew ross sorkin For as long as I covered the world of business, every. companies and industries that did not conform to business ethics. A shareholder is someone who owns stock in your company, while a stakeholder is someone who is impacted by (or has a "stake" in) a project you're working on. They can be owners, shareholders, employees . Is the only responsibility of business to maximize profits, as Milton Friedman famously argued in 1970? checks and balances . In some cases, there are primary stakeholders on both sides of the equation: a regulation that benefits one group may have a negative effect on another. What the South African people want above all else is to see their quality of life improved. checks and balances . It becomes their effort, and they'll do their best to make it work. A person who enjoys being around the business. To observe stakeholder theory, those involved . Users as Stakeholders. Under the shared value creation framework, which of the following strategic actions would fail to connect economic and societal needs? What do stakeholders want above all else? This list of stakeholders covers users, governance, influencers, and providers which all together go by the acronym UPIG. They want jobs and opportunities to better themselves. Which of the following are critical aspects of maintaining good relationships between a firm and its stakeholders? The shared value creation framework encourages managers to focus on which of the following needs? Introduction. economic social. A statement signed by almost 200 C.E.O.s, including JPMorgan's Jamie Dimon, says companies should focus on all stakeholders. 38 terms. fair treatment. a. fair treatment. Pavel works for a successful pharmaceutical company. They want to live, study and work in environments free of crime and violence. The shared value creation framework encourages managers to focus on which of the following needs? They prioritize financial performance over all else. 3. For a. 22 terms. Improving relationships. Many shareholders . Strategic Management Chapter 1. Corporate governance is a system of _____. Leads by example; encourages participation; group decision- making, delegates authority. a. fairness b. transparency. Strategic Management: Midterm - Prof Lopez. According to Johnson, Scholes & Whittington (2006) stakeholders refer to individuals or groups who depend on the organisation to fulfil their own goals and on whom, in turn, the organisation depends. Work turned in under these conditions tends to be sloppy, ill-tested . a. fair treatment. 38 terms. This list of stakeholders covers users, governance, influencers, and providers which all together go by the acronym UPIG. PFP Final Exam. fair treatment Other sets by this creator. Stakeholders in healthcare can include but are not limited to, patients, caregivers, doctors, nurses, unions, employees, employers, government, insurance companies, communities and pharmaceutical firms. A feeling of responsibility is developed within the good. Stakeholders in tourism development Users as Stakeholders. 119 terms . a. fair treatment. Summary. 31 terms. Owners and investors Stockholders of corporations need financial information to help them make decisions on what to do with their investments (shares of stock), i.e. 3.4 Corporate Social Responsibility (CSR) Key Terms. The board of directors is elected by the shareholders to govern the management team . a. fairness b. transparency. A person with the main role of holding stakes for a business. Improving relationships. Related questions. Despite several years of unprecedented growth, the company wants to boost profits . They do not care for political squabbles, rivalries, plots, and intrigue. Strategic Management Chapter 10. September 6, 2013. Again, project tracking can be of great help here, as it allows you to keep everyone in the loop while saving your time. So, as a software project manager, you should really focus on the stakeholders. This is how you guarantee that everyone is on the same page. 67. What do stakeholders want above all else? Let's look at each of those in a bit more detail. Corporate governance is a system of _____. zachlilly. A stakeholder is anyone who has a "stake" in the success of a business - a person who can be affected by, or affect, the operations of a business. Funds that pools the savings of many individuals and invests this money in a variety of stocks,bonds,and other financial assets An individual or group that has active interest in a business or is affected by the activities of the business. High-profile accounting scandals and the global financial crisis are examples of _____. What do stakeholders want above all else? Fair treatment. companies and industries that did not conform to business ethics. QUESTION. End of preview. (Check all that apply.) Despite several years of unprecedented growth, the company wants to boost profits . And on the map, jot down the types of engagement and the types of communication you would want to use to inform or engage the stakeholder. the processes for participation of all stakeholders are clearly stated and appropriate eg., there is a rationale for why some stakeholders are consulted while others are invited to become partners; stakeholders feel that their interests have been understood and taken into account; the multiple stakeholders involved are seen to be a balanced group They are the beneficiaries of the outputs. brittanyl489. A feeling of responsibility is developed within the good. Strategic Management Chapter 2. Sets found in the same folder. However, others may wish they were more engaged. This is how you get buy-in and avoid hearing weeks or months later: This isn't what we asked for. These stakeholders include customers, clients, employees, shareholders, communities, the environment, the government, and the media (traditional and social), among others. PFP Final Exam. Strategic Management Chapter 10. Similarly, stakeholder management reduces friction. Want to read all 6 pages? . Sets found in the same folder. If nothing else, being proactive about managing stakeholders encourages a more positive company culture. It can be virtually anyone, as long as that person . a. fairness b. transparency. 3.3 Ethical Decision-Making and Prioritizing Stakeholders. Under the shared value creation framework, which of the following strategic actions would fail to connect economic and societal needs? The ideas of corporate social responsibility and stakeholder strategy are particularly prevalent in _____. A stakeholder is an individual, or group of people, that all share a common interest in a project or organisation, and share an interest in its . What do stakeholders want above all else? What do stakeholders want above all else? zachlilly. If nothing else, being proactive about managing stakeholders encourages a more positive company culture. Similarly, stakeholder management reduces friction. In the recent history of management ideas, few have had a more profound or pernicious effect than the one that says corporations should be run in a manner that . fair treatment. hold, sell, or buy more. Assessment Questions. 36 terms. Related questions. fair treatment Other sets by this creator. Remember, for every lot according to their priorities; you will choose the right way to communicate with them. Our starting point is that shareholders care about more than just money. The requirements gathering process, also known as requirements elicitation, is a project management basic practice that uncovers, verifies, documents, and manages the various needs and requirements. Learn about the key differences between shareholders and . All stakeholders can have a say in the development of an effort that may seriously affect them. 1. You might do a weekly high-level report for the clients via a personal email from the project manager. It gains buy-in and support for the effort from all stakeholders by making them an integral part of its development, planning, implementation, and evaluation. Leads by example; encourages participation; group decision- making, delegates authority. a. fair treatment. A stakeholder can be a project team member, an employee of the user organization, or a senior manager. Let's look at each of those in a bit more detail. 3.2 Weighing Stakeholder Claims. Defining The Stakeholders A stakeholder is a person with something at stake through the operation, growth or existence of a business. What do stakeholders want above all else? New ideas and change are welcomed. a. fairness b. transparency. (Check all that apply.) What do stakeholders want above all else? What do stakeholders want above all else? Compassion: Attitude is everything. 4 Companies issue. Prospective investors need information to assess the company's potential for success and profitability. A stakeholder's role within an organization may be obvious or. by teasing out specifically what is required and matching this with the available resources - time, money and person-power - the aim is to reduce the possibility of a project running out of steam for stakeholder engagement before it is concluded and to maximise the chances that the commitments made by researchers to stakeholders (the 'promise' They want better basic services. We have completed over 130 multistakeholder projects at local, national, and international levels.